Zomato IPO: 60 Percent of Day 1 Applicants Were Under 30, Says Paytm Money

Zomato IPO, which was launched on Wednesday, July 14, appears to have attracted a big demand from younger traders in India as per buying and selling app Paytm Money on Thursday. It reported that 27 % of the IPO’s candidates on the Paytm Money platform on the primary day of the launch had been below the age of 25 and 60 % had been below 30. More than 22 % of the day-one candidates for the Zomato IPO on Paytm Money had been new to capital market traders. The software window for the IPO is open till Friday, July 16.

Paytm Money mentioned that the common Zomato IPO investor was a 12 months youthful than candidates for earlier IPOs on its platform. Historically, 55 % of IPO candidates on the platform have been below the age of 30, the digital brokerage arm of Paytm mentioned in a press release.

In phrases of demographics, Paytm Money mentioned that aside from high cities akin to Bengaluru, Delhi, and Mumbai, first time participation was seen from smaller cities like Kodinar in Gujarat, Tuensang in Nagaland, and Rangapara in Assam. Women contribution was additionally 10 % the general purposes obtained on the primary day of the IPO, with a marginal greater ticket dimension over what was obtained from their male counterparts.

The common ticket dimension of IPO purposes for Zomato on the primary day of its launch was additionally 20 % greater than that of different IPOs on Paytm Money, the corporate mentioned. It, nonetheless, did not reveal the precise variety of candidates obtained attributable to regulatory restrictions.

Paytm Money launched a pre-open IPO software characteristic forward of the Zomato IPO launch earlier this week. It permits customers to put an IPO order even a few days earlier than the IPO goes reside.

Zomato is aiming to boost Rs. 9,375 crores by way of its IPO, below which retail traders can apply for as much as 13 heaps the place every lot comprises 195 shares between Rs. 72–76. The Gurugram-based meals supply aggregator has Info Edge, Uber, Alipay Singapore, and Antfin Singapore as a few of its main traders.

Paytm Money famous that the retail portion of the Zomato IPO was subscribed by over 200 % throughout the first couple of hours of its opening. A Paytm Money spokesperson mentioned that a big proportion of the Zomato IPO candidates could possibly be younger or new to capital markets traders.

As per the data available on the BSE portal, the Zomato IPO was subscribed 4.80 occasions on the second day, with bids for 4.73 occasions subject dimension significantly obtained from retail traders.

Disclosure: Paytm’s father or mother firm One97 is an investor in NDTV’s Gadgets 360.